Office Depot Swings to a Profit,
Issues Upbeat Outlook for Quarter

Dow Jones Newswires

Updated Feb. 13, 2002 10:38 a.m. ET

DELRAY BEACH, Fla. -- Office Depot Inc. swung to a profit in the fourth quarter despite soft sales caused by a sluggish U.S. economy. The company also issued an upbeat earnings outlook for the first quarter and full year.

The office-products retailer Wednesday reported net income of $40.3 million, or 13 cents a share, compared with a net loss of...